Policy Riders, Provisions, Options, and Exclusions
A compliance reviewer checks a Texas life policy form before filing. Which entire-contract clause fits Texas law?
Answer and explanation
Answer: A. Texas Insurance Code Section 1101.003 requires the policy to state that the policy, or the policy and the application, constitute the entire contract between the parties.Source: Texas Insurance Code — Section 1101.003, Entire Contract — Sec. 1101.003. ENTIRE CONTRACT
More policy riders, provisions, options, and exclusions questions
- A universal life owner wants to vary the timing and amount of premium payments. Which condition remains essential?
- A universal life policy carries a waiver of monthly deduction rider. How does that rider differ from a standard waiver of premium rider?
- A variable life owner takes a policy loan and leaves it outstanding. Which effect should the owner expect?
- A waiver of premium rider is in force and the insured becomes totally disabled. What does the rider do once the waiting period has been satisfied?
- A whole life owner needs extra protection only while a business loan is outstanding. Which addition most directly fits that limited-duration need?
- After a Texas life policy has been in force for 2 years during the lifetime of the insured, under what condition can the insurer contest a claim?
590 Texas questions like this one.
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